Republicans and Democrats Unite for Child Tax Credit Increase – The Looming Child Tax Credit Plan Debate
Proposed Boost in Child Tax Credit: From $2,000 to $3,600 – A Closer Look at the Plan
According to Just The News, Congress is debating a tax plan supported by Republicans to increase the Child Tax Credit from $2,000 to $3,600 per child. The plan allows parents to receive the credit even if they have no income. However some Republicans are concerned about the plan’s cost estimated at $1.5 trillion over the next decade and worry about potential benefits for illegal immigrants. The decision is pending in the Democratic-led Senate.
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$3,600 Child Tax Credit Proposal: Congress Grapples with Bipartisan Divide (PHOTO: Yahoo Finance)
Mike Crapo a leading Republican on tax matters urges caution on the proposed Child Tax Credit expansion emphasizing the need for thorough consideration. However Senate Leader Chuck Schumer has not scheduled a vote yet. With Trump-era tax rules expiring by 2025 the debate is complex especially amidst differing opinions.
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